You are here: Home » News-IANS » Politics
Business Standard

Air India divestment process on track: Jayant Sinha

IANS  |  Hyderabad 

Union for Civil Aviation on Friday said the divestment process of Air was very much on track in terms of the timeline.

The Ministry is keen to transfer the to the private sector by the end of this calendar year, he said.

"Our timelines are very clear. Our goal is to award it by the end of June and to have the whole transaction closed and done of the transfer of to the private sector by end of this calendar year," told the media on the sidelines of WINGS 2018 at here.

He attributed the delays in the expression of interest (EoI) processes to several important issues that the Ministry had to sort out besides obtaining approval from the Alternative Mechanism, chaired by

On Thursday, said there would be clarity in two weeks on the expression of interest.

Sinha, however, refused to divulge the details of the percentage of stake sale or the quantum of money to be raised through the divestment. He also chose not to comment on the interest shown by some foreign airlines to participate in the bidding.

On the safety concerns over the new engines of in the aircraft, said the Ministry was working closely with safety regulators around the world to decide on the best course of action for the engine.

Sinha was all praise for his who quit the government on Thursday.

"We will very much miss the He was a tremendous source of inspiration, guidance and leadership for us. And we in the have benefited greatly from his leadership," he said.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 20:56 IST